Empowered Funds LLC purchased a new stake in shares of Peoples Bancorp Inc. (NASDAQ:PEBO – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 172,412 shares of the bank’s stock, valued at approximately $6,622,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC purchased a new position in shares of Peoples Bancorp in the third quarter worth about $30,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Peoples Bancorp during the 2nd quarter valued at about $33,000. Quarry LP purchased a new stake in Peoples Bancorp during the 3rd quarter valued at about $35,000. Allworth Financial LP bought a new position in Peoples Bancorp during the 2nd quarter worth approximately $50,000. Finally, Strs Ohio bought a new position in Peoples Bancorp during the 1st quarter worth approximately $62,000. 60.68% of the stock is owned by institutional investors.
Insider Activity at Peoples Bancorp
In other news, insider Matthew Edgell sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.27, for a total value of $123,810.00. Following the completion of the transaction, the insider owned 20,183 shares in the company, valued at $832,952.41. This trade represents a 12.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight Eric Smith purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, July 23rd. The shares were purchased at an average price of $39.81 per share, for a total transaction of $39,810.00. Following the completion of the transaction, the director directly owned 10,256 shares of the company’s stock, valued at $408,291.36. This represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.31% of the stock is currently owned by corporate insiders.
Peoples Bancorp Stock Performance
Peoples Bancorp (NASDAQ:PEBO – Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. Peoples Bancorp had a net margin of 19.17% and a return on equity of 10.71%. The company had revenue of $121.95 million during the quarter, compared to the consensus estimate of $120.05 million. Sell-side analysts anticipate that Peoples Bancorp Inc. will post 3.56 EPS for the current year.
Peoples Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 3rd were given a $0.42 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $1.68 annualized dividend and a dividend yield of 4.2%. Peoples Bancorp’s dividend payout ratio is currently 50.76%.
Analyst Ratings Changes
PEBO has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Peoples Bancorp in a research note on Wednesday. Piper Sandler set a $46.00 target price on shares of Peoples Bancorp in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Peoples Bancorp from $38.00 to $42.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 22nd. Finally, DA Davidson lifted their target price on shares of Peoples Bancorp from $41.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Peoples Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.
View Our Latest Analysis on PEBO
Peoples Bancorp Profile
Peoples Bancorp, Inc is a bank holding company headquartered in Marietta, Ohio. Through its subsidiary Peoples Bank, the company provides a comprehensive range of commercial and consumer banking services designed to serve individuals, businesses and institutional clients. Its deposit products include checking and savings accounts, money market accounts, certificates of deposit and digital banking platforms that enable secure online and mobile access.
On the lending side, Peoples Bancorp offers commercial and industrial loans, commercial real estate financing, construction and agricultural lending, as well as residential mortgage products.
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